Archive for January, 2014

  • Wall Street Sold Off Hard Today


    DOW  16,197.35  -175.99 points or  -1.07%
    S&P    1,828.46  -16.40 points or -0.89%
    NASDAQ 4,218.87 -24.13 points or -0.57%
    Wall Street sold off hard today as a report stated that the manufacturing slowdown in China at the end of 2013, had continued into January of 2014. In addition,  US-traded Chinese stocks were down sharply following a United States Securities and Exchange Commission Judge ruling that the worlds top accounting firms Chinese divisions should be suspended from auditing US-traded Chinese stocks. 
    The DOW was down for a third consecutive day losing -175.99 points or down -1.07 percent to close down 16,197.35 for the day. The S&P 500 index lost -16.40 points or down -0.89 percent to close down at 1,828.46 for the day. The NASDAQ index slipped -24.13 points or down -0.57 percent to close down at 4,218.87 for the day. 
    All released and proposed to be released economic reports for the week are listed below.
    January 22

    7:00 am MBA Mortgage Index report for January 18 was up 4.7 percent.  There is not a forecasted figure for this report. The prior reported number was up 11.9 percent. 
    January 23
    8:30 am Continuing Claims report for January 11 was not released today
    8:30 am Initial Claims report for January 18 was 326,000. The Street was looking for 327,000. the revised prior reported number was 326,000. 
    8:30 am Continuing Claims report for January 11 was 3056K. Wall Street was looking for 2900K. The revised prior reported number was 3030K.
    9:00 am FHFA Housing Price Index report for November was 0.1 percent. There was not an expected number for this report. The prior reported figure was 0.5 percent. 
    10:00 am Existing Home Sales report for December was 4.87M. Wall Street was expecting 4.90M. The revised prior reported figure was 4.90M.
    10:00 am Leading Indicators report for December was 0.1 percent. Wall Street was looking for 0.2 percent. The revised prior reported number was 0.8 percent. 
    10:30 am Natural Gas Inventories report for January 18 was -107bcf. There is not a Street expected number for this report. The prior reported number was -287bcf.
    11:00 am Crude Inventories report for January 18 was 0.990M. The prior reported figure was -7.658M.
  • Warren Sulmasy Wall Street Mixed Trading




    DOW  16,373.34  -41.10 points or  -0.25%
    S&P    1,844.86  +1.06 points or +0.06%
    NASDAQ 4,243.00 +17.24 points or +0.41%
    Wall Street experienced a mixed trading day with the Dow sinking while the S&P 500 was basically unchanged and the NASDAQ index enjoyed a healthy positive day. The DOW dropped -41.10 points or down -0.25 percent to close down at 16,373.34 for the trading day. The S&P 500 index was up slightly, up +1.06 points or up +0.06 percent to close up at 1,8444.86 for the trading day. The NASDAQ index rose nicely, moving up +17.24 points or up +0.41 percent to close up at 4,243.00 for the trading day.    
     
    The count down to Janet Yellens term as Federal Reserve Chairperson is under 10 days. Yellen will become the first woman to lead the Federal Reserve Bank in the 100 years of its existence.  Ms Yellens first major task will be to responsibly lead the US through the tapering of the current bond buying policy from the current levels of $75 billion per month down to zero.  Yellen, who has been a strong proponent of fighting high unemployment at the Fed, will continue to keep interest rates low for an extended period of time while inflation remains in check.  Ms Yellen takes the Fed Chair February 1st.
    All released and proposed to be released economic reports for the week are listed below.
    January 22

    7:00 am MBA Mortgage Index report for January 18 was up 4.7 percent.  There is not a forecasted figure for this report. The prior reported number was up 11.9 percent. 
    January 23
    8:30 am Continuing Claims report for January 11 
    8:30 am Initial Claims report for January 18 
    8:30 am Continuing Claims report for January 11
    9:00 am FHFA Housing Price Index report for November 
    10:00 am Existing Home Sales report for December 
    10:00 am Leading Indicators report for December
    10:30 am Natural Gas Inventories report for January 18
    11:00 am Crude Inventories report for January 18
  • Warren Sulmasy Stock Market Pulls Back From Yesterdays Record High

    DOW  16,417.01  -64.93 points or  -0.39%
    S&P    1,845.89  -2.49 points or -0.13%
    NASDAQ 4,218.69 +3.81 points or +0.09%
    Wall Street pulled back today after yesterdays record high rally.  The DOW lost -64.93 points or down -0.39 percent to close down at 16,417.01 for the day. The S&P 500 index shaved off -2.49 points or down -0.13 percent to close down at 1,845.89 for the day. The NASDAQ index managed to squeak out a tiny gain of +3.81 points or up +0.09 percent to close at 4,218.69 for the day.
    All released and proposed to be released economic reports for the week are listed below.
    January 13
    2:00 pm  Treasury Budget report for December was $53.2. The Street was expecting +$44.0B. The prior reported number was -$1.2B.
    January 14
    8:30 am Retail Sales report for December was up 0.2 percent. The Street was expecting a flat report. The revised prior reported number was 0.7 percent. 
    8:30 am Retail Sales ex auto report for December was up 0.7 percent. The Street was looking for down -0.1 percent. The revised prior reported number was up 0.4 percent. 
    8:30 am Export Prices ex- agriculture report for December was up 0.3 percent. There is not an expected number for this report. The prior reported number was 0.1 percent. 
    8:30 am Import Prices ex-oil report for December was down -0.1 percent. The prior reported number was flat.
    10:00 am Business Inventories report for November was up 0.4 percent. Wall Street was looking for up 0.2 percent. The revised prior reported number was 0.7 percent. 

    January 15
    7:00 am MBA Mortgage Index report for January 11 was 11.9 percent. The Street does not post an expected number for this report. The prior reported number was 2.6 percent. 
    8:30 am PPI report for December was 0.4 percent. The Street was expecting 0.2 percent. The prior reported number was -0.1 percent. 
    8:30 am Core PPI report for December was 0.3 percent. The Street was expecting 0.1 percent. The prior reported number was 0.1 percent.
    8:30 am Empire Manufacturing report for January was 12.5.  The Street was expecting 4.0. The revised prior reported number was 1.0 percent. 
    10:30 am Crude Inventories report for January 11 was -7.658M. The Street does not post an expected number for this report. The prior reported number was -2.675M. 
    2:00 pm Feds Beige Book release for January indicated the US economy is expanding moderately and the outlook remains positive. 

    January 16
    8:30 am Initial Claims report for January 11 was 326,000.  Wall Street was looking for 335,000. The revised prior reported number was 330,000.
    8:30 am Continuing Claims report for January 4 was 3,030,000.  Wall Street was expecting 2,875,000. The revised prior reported number was 2,865,000. 
    8:30 am CPI report for December was 0.3 percent. The Street was looking for 0.2 percent. The prior reported number was flat.
    8:30 am Core CPI report for December was 0.1 percent. The Street was looking for 0.2 percent. The prior reported number was 0.2 percent. 
    9:00 am Net Long TIC Flows report for November was -$29.3B. The revised prior reported number was $35.4B. 
    10:00 am Philadelphia Fed report for January was 9.4.  The Street was looking for 8.0.  The revised prior reported number was 7.0.
    10:00 am NAHB Housing Market Index report for January was 56. The Street was expecting 57. The prior reported number was 57.
    10:30 am Natural Gas Inventories report for January 11 was -287bcf. The prior reported number was -157bcf.

    January 17
    8:30 am Housing Starts report for December
    8:30 am Building Permits report for December
    9:15 am Industrial Production report for December
    9:15 am Capacity Utilization report for December 
    9:55 am Michigan Sentiment for January
    10:00 am JOLTS-Job Openings report for November














  • Warren Sulmasy S&P 500 Closes at All time High

    DOW  16,481.94 +108.08 points or +0.66%
    S&P    1,848.38  +9.50 points or +0.52%
    NASDAQ 4,214.88 +31.87 points or +0.76%
    Wall Street continued yesterdays rally today with the S&P climbing to a new all time high. The DOW jumped up +108.08 points or up +0.66 percent to close up at 16,481.94 for the day. The S&P 500 index climbed up +9.50 points or up +0.52 percent to close up at the all time closing high of 1,848.38 for the day. The NASDAQ index moved up +31.87 points or up +0.76 percent to close up at 4,214.88 for the day. 
    All released and proposed to be released economic reports for the week are listed below.
    January 13
    2:00 pm  Treasury Budget report for December was $53.2. The Street was expecting +$44.0B. The prior reported number was -$1.2B.
    January 14
    8:30 am Retail Sales report for December was up 0.2 percent. The Street was expecting a flat report. The revised prior reported number was 0.7 percent. 
    8:30 am Retail Sales ex auto report for December was up 0.7 percent. The Street was looking for down -0.1 percent. The revised prior reported number was up 0.4 percent. 
    8:30 am Export Prices ex- agriculture report for December was up 0.3 percent. There is not an expected number for this report. The prior reported number was 0.1 percent. 
    8:30 am Import Prices ex-oil report for December was down -0.1 percent. The prior reported number was flat.
    10:00 am Business Inventories report for November was up 0.4 percent. Wall Street was looking for up 0.2 percent. The revised prior reported number was 0.7 percent. 

    January 15
    7:00 am MBA Mortgage Index report for January 11 was 11.9 percent. The Street does not post an expected number for this report. The prior reported number was 2.6 percent. 
    8:30 am PPI report for December was 0.4 percent. The Street was expecting 0.2 percent. The prior reported number was -0.1 percent. 
    8:30 am Core PPI report for December was 0.3 percent. The Street was expecting 0.1 percent. The prior reported number was 0.1 percent.
    8:30 am Empire Manufacturing report for January was 12.5.  The Street was expecting 4.0. The revised prior reported number was 1.0 percent. 
    10:30 am Crude Inventories report for January 11 was -7.658M. The Street does not post an expected number for this report. The prior reported number was -2.675M. 
    2:00 pm Feds Beige Book release for January indicated the US economy is expanding moderately and the outlook remains positive. 

    January 16
    8:30 am Initial Claims report for January 11
    8:30 am Continuing Claims report for January 4
    8:30 am CPI report for December
    8:30 am Core CPI report for December
    9:00 am Net Long TIC Flows for November
    10:00 am Philadelphia Fed report for January
    10:00 am NAHB Housing Market Index report for January
    10:30 am Natural Gas Inventories report for January 11

    January 17
    8:30 am Housing Starts report for December
    8:30 am Building Permits report for December
    9:15 am Industrial Production report for December
    9:15 am Capacity Utilization report for December 
    9:55 am Michigan Sentiment for January
    10:00 am JOLTS-Job Openings report for November